Stamford, Conn.- Following a period of cost cutting and reactive spending, insurance organizations with more than $1 billion in revenue will be even more cautious when making their IT spending decisions in 2006, according to Gartner Consulting's Worldwide IT Benchmark Service.
In 2006, IT spending in the insurance industry is expected to be 6.5%, a decline from 2005, when IT spending was 7.7%.
"While we are seeing all organizations moving away from reactive IT spending and toward improved agility and long-term strategic support at a macro scale, there are a number of different trends that are specific to each industry, geography and organization size," said Howard Rubin, an associate with Gartner Consulting, Stamford, Conn.
"No single measure or investment can help an organization support the growth and direction of its business, but organizations that develop ongoing strategic performance management programs that allow them to manage their performance and track their competitive environment will be first in managing business growth, strategy and operations effectively," said Mr. Rubin.
Gartner's Worldwide IT Benchmark Service and The Worldwide IT Benchmark report includes five volumes of comprehensive IT spending and performance data across 20 industries. This report highlights comprehensive IT spending plans of more than 1,500 companies, across a variety of industries, with more than $1 billion in revenue, combined with historical spending and performance data on more than 10,000 companies worldwide. The report is designed to allow companies to look at key cost and performance indicators by IT domain to gauge and manage organizational effectiveness and performance optimization.
Source: Business Wire
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